A Roth IRA conversion and a contribution are not the same thing. Making a Roth IRA contribution and doing a Roth conversion are both ways to get money into a Roth IRA. However, the rules for each are very different.  Often times I have found there is confusion in this area. This short video explains what […] The post Don’t Confuse a Roth Conversion With a Contribution first appeared on Cravitz Financial & Insurance Solutions. The post Don’t Confuse a Roth Conversion With a Contribution appeared first on Cravitz Financial & Insurance Solutions ..read more

In this video I explain what Multi-Year Guarantee Annuities (MYGA's) are, how they work, and why they have become more popular recently. We will look at the liquidity options, terms, taxes, some current MYGA rates and more.  I'll cover the important things to know about MYGA's, and I'll share some thoughts on how you might consider […] The post Understanding Multi-Year Guarantee Annuities (MYGA’s) first appeared on Cravitz Financial & Insurance Solutions. The post Understanding Multi-Year Guarantee Annuities (MYGA’s) appeared first on Cravitz Financial & Insurance Solutions ..read more

As much as any other threat, recognizing and avoiding scams has become a necessary skill for today’s retirees to develop. In today’s episode, we’ll share a story of how a scam destroyed a woman’s entire retirement savings. Then, we’ll explore some crucial steps you can take to safeguard your financial well-being against the growing tide of scams and identity theft. The post Practical Strategies for Protecting Retirees Against Scams & Fraud first appeared on Cravitz Financial & Insurance Solutions. The post Practical Strategies for Protecting Retirees Against Scams & Fraud appeared ..read more

Is your financial advisor truly planning for your future, or just coasting? In this video, Ryan and Erin lay out the five signs that your advisor is delivering genuine financial planning, not just quick fixes. A truly committed advisor will: Help you define your goals and objectives Gather details on ALIE (Assets, Liabilities, Income, and Expenses) […] The post 5 Signs Your Advisor is Doing Real Financial Planning first appeared on Cravitz Financial & Insurance Solutions. The post 5 Signs Your Advisor is Doing Real Financial Planning appeared first on Cravitz Financial & Insurance ..read more

Couples should carefully consider the financial and emotional consequences of retiring simultaneously before making the decision. If you're considering retiring at the same time, we walk through 4 questions you should consider first: Have You Correctly Calculated Your Cost of Living in Retirement? According to a recent study: 46% of older adults spend MORE money […] The post Should Couples Retire Together? first appeared on Cravitz Financial & Insurance Solutions. The post Should Couples Retire Together? appeared first on Cravitz Financial & Insurance Solutions ..read more

We work through all types of scenarios with clients each day and find tools that will help them reach their financial goals. To help you get a better idea of how we work through these different scenarios, we are going to run through a list of questions that we’ve been asked recently. The post Financial Questions That We’ve Been Asked Recently first appeared on Cravitz Financial & Insurance Solutions. The post Financial Questions That We’ve Been Asked Recently appeared first on Cravitz Financial & Insurance Solutions ..read more

You spend decades building your nest egg. Then, when you retire, you need a plan to stop saving and start spending, but not too much that you risk running out of money. It's a delicate balance. In this video, we'll discuss 5 variables that are important to consider:Plan for LongevityMake the Right Decision about Social Security BenefitsChoose the […] The post What is a Retirement Drawdown Strategy? 5 Tips to Make Your Money Last. first appeared on Cravitz Financial & Insurance Solutions. The post What is a Retirement Drawdown Strategy? 5 Tips to Make Your Money Last. appeare ..read more

Whether you're nearing retirement, already retired, or just planning ahead, it's crucial to stay informed about Social Security and any changes that happen each year. Today we’re going to share some key things that you need to know and bring you up to speed on some updates that need to be aware of. Ryan will also tell you how this might impact you and the planning you’ll do this year. The post What’s New with Social Security in 2024? first appeared on Cravitz Financial & Insurance Solutions. The post What’s New with Social Security in 2024? appeared first on Cravitz Financial & Insuran ..read more

When should you begin collection your Social Security retirement benefits? You can take it at anytime between age 62 and 70. What's the right choice for you? In this video we'll discuss some of the important things to think about when making this decision. Some of the factors you'll want to consider include: If you […] The post When Should You Take Your Social Security Retirement Benefits? first appeared on Cravitz Financial & Insurance Solutions. The post When Should You Take Your Social Security Retirement Benefits? appeared first on Cravitz Financial & Insurance Solutions ..read more

As we close in on the end of the year, we want to finish up by answering questions that people have asked us recently. We’ll cover key financial planning topics like retirement withdrawal rates, investing in CDs, advisor fees, Social Security and more. The post Important Retirement Updates & Changes for 2024 first appeared on Cravitz Financial & Insurance Solutions. The post Important Retirement Updates & Changes for 2024 appeared first on Cravitz Financial & Insurance Solutions ..read more